Zacks Investment Research Lowers Edwards Lifesciences (EW) to Hold

Zacks Investment Research Lowers Edwards Lifesciences (EW) to Hold

Zacks Investment Research downgraded shares of Edwards Lifesciences (NYSE:EW) from a buy rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “Edwards Lifesciences has reported better-than-expected first-quarter 2019 figures. The company has been seeing strong transcatheter valve sales in the domestic and overseas markets. It has registered strong sales within its Critical Care division, boosted by a surge in HemoSphere sales. Currently, Edwards Lifesciences awaits the full-market launch of the HemoSphere platform with FloTrac System and Acumen Hypotension Predictive Index. The company is also upbeat about the acquisition of CASMED, expected to strengthen its position in smart monitoring technologies within the critical care platform. Further, we are pleased with Edwards Lifesciences’ recent receipt of the CE Mark for PASCAL. Meanwhile, persistent supply constraints dented Cardioband system sales. This apart, tough competition in the cardiac devices market and reimbursement issues raise concerns. Overall, in the past three months, Edwards Lifesciences outperformed its industry.”

Other analysts have also issued reports about the stock. Cowen reissued a buy rating on shares of Edwards Lifesciences in a research report on Monday, February 4th. Stifel Nicolaus restated a buy rating and issued a $190.00 target price on shares of Edwards Lifesciences in a research note on Sunday, February 3rd. Bank of America upgraded shares of Edwards Lifesciences from a neutral rating to a buy rating and raised their target price for the company from $180.00 to $190.00 in a research note on Friday, January 18th. Canaccord Genuity reiterated a buy rating and set a $215.00 price objective (up from $190.00) on shares of Edwards Lifesciences in a research note on Monday, March 18th. Finally, Jefferies Financial Group lifted their price objective on shares of Edwards Lifesciences from $195.00 to $210.00 and gave the stock a buy rating in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $187.00.

EW stock traded up $2.72 during mid-day trading on Wednesday, reaching $180.49. The company had a trading volume of 858,740 shares, compared to its average volume of 1,311,351. The company has a quick ratio of 2.69, a current ratio of 3.66 and a debt-to-equity ratio of 0.17. The company has a market cap of $37.22 billion, a price-to-earnings ratio of 38.40, a P/E/G ratio of 2.32 and a beta of 0.85. Edwards Lifesciences has a 52 week low of $133.34 and a 52 week high of $197.86.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $1.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.09. The firm had revenue of $993.00 million during the quarter, compared to the consensus estimate of $989.87 million. Edwards Lifesciences had a return on equity of 31.16% and a net margin of 20.03%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company earned $1.22 earnings per share. On average, equities research analysts anticipate that Edwards Lifesciences will post 5.28 EPS for the current fiscal year.

In other news, VP Larry L. Wood sold 6,716 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $192.34, for a total value of $1,291,755.44. Following the sale, the vice president now directly owns 122,495 shares of the company’s stock, valued at approximately $23,560,688.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael A. Mussallem sold 32,800 shares of the business’s stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $176.90, for a total transaction of $5,802,320.00. Following the completion of the sale, the chief executive officer now directly owns 75,926 shares in the company, valued at $13,431,309.40. The disclosure for this sale can be found here. Insiders sold a total of 152,437 shares of company stock worth $26,836,405 over the last quarter. 1.63% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in EW. Signaturefd LLC grew its stake in shares of Edwards Lifesciences by 9.3% in the 1st quarter. Signaturefd LLC now owns 1,169 shares of the medical research company’s stock valued at $224,000 after buying an additional 99 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Edwards Lifesciences by 0.5% during the first quarter. California State Teachers Retirement System now owns 347,811 shares of the medical research company’s stock worth $66,547,000 after purchasing an additional 1,678 shares during the last quarter. DE Burlo Group Inc. grew its holdings in shares of Edwards Lifesciences by 311.8% during the first quarter. DE Burlo Group Inc. now owns 74,950 shares of the medical research company’s stock worth $14,340,000 after purchasing an additional 56,750 shares during the last quarter. Ballentine Partners LLC bought a new stake in shares of Edwards Lifesciences during the first quarter worth $243,000. Finally, Magnus Financial Group LLC bought a new stake in shares of Edwards Lifesciences during the first quarter worth $370,000. 84.62% of the stock is currently owned by institutional investors and hedge funds.

About Edwards Lifesciences

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.

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